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Instant Insights / July is National Vehicle Theft Prevention Month

July is National Vehicle Theft Prevention Month. Learn about the insurance trends and explore ways to prevent vehicle theft.

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Incidents of auto theft surged in 2020

Early indicators point to 2020 becoming the biggest year for stolen cars in the past decade by a 'significant margin,' the NICB president & CEO said.

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The spike in stolen cars in 2020 ended a two-year trend of declining auto theft rates, NICB reported. (Credit: m.bonotto/Shutterstock) The spike in stolen cars in 2020 ended a two-year trend of declining auto theft rates, NICB reported. (Credit: m.bonotto/Shutterstock)

As with hurricanes, wildfires and other catastrophes in 2020, auto thefts became more frequent and severe this past year, according to a preliminary analysis from the National Insurance Crime Bureau (NICB). The increase ended a two-year downward trend for stolen vehicles.

While not every driver will experience a stolen car, they will all pay for the crime through higher insurance rates, NICB reported, as around one-fourth of a typical comprehensive auto insurance premium goes to pay for auto theft claims.

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Steve Hallo

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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